Sanwo-Olu: Lagos Not Key Beneficiary Of Tax Reform Bill

Babajide Sanwo-Olu, the governor of Lagos State, has denied that the state will profit greatly from the federal government’s proposed tax reform, saying that Lagos is in a “extremely comfortable” position.

He disclosed this during an interview with the News Agency of Nigeria (NAN) on Wednesday, while attending the Africa Investment Forum, Market Days 2024, in Rabat, Morocco.

Sanwo-Olu acknowledged that while Lagos State may experience some losses, it also stands to gain a greater opportunity to play a more substantial role.

He underscored the importance of reforms, despite facing opposition from some groups.

“What those uncomfortable with the tax reform are not willing to accept is that there is no way of making an omelette without breaking the egg.

“You cannot make changes if the reforms are not set in. I have advised that people should take time to read the provisions of the reform very well and to fully understand what they’re trying to do.

“I’ve seen comments around. Comments like Lagos is going to be the major beneficiary. It is not true. Lagos is actually going to be shaped off in some places, but on a larger scale basis, we see it as a global thing for a better governance structure.

“All of us will play better, and we’ll be able to discipline ourselves more. One of the things that you will see is that you need to work harder for you to get the full benefit of the reform. So it’s not just an easy kill,” he said.

The governor added that if the changes were not made, greater opportunities were inherent in the states of the federation as well as non-governmental actors.

“I have a positive attitude to it. I see it as a very wonderful reform.

“The intention is to better a lot, but not just better a lot of one person or one set of people. It’s for all of us, and so we should look at it this way,” he said.